Cashing up leave

Team Member's Guide to MyPay- Cashing up leave



Applies to Torpedo 7

Leave Cash Ups

Please note that any cash up of leave is treated as a lump sum payment and so is taxed at a higher lump sum tax rate (PAYE).

Annual Leave cash up:

Every year after a team member’s anniversary date, the remaining balance of the 4th week of outstanding leave, will be available to cash up.

To cash up your annual leave you will need to:

1.       Log into MyPay and select ‘My Transactions’ from your Menu options.

2.       Select the ‘Annual Leave 4th Wk Cashup’ option from the ‘Allowance’ drop down box.

3.       Tab through to the ‘Quantity’ box, as below, and your number of hours available to cash up will reflect in the ‘Cashup Balance’ box.


4.       Enter the number of hours you wish to cash up into the ‘Quantity’ box.

5.       Type in a comment if you need to.

6.       Click ‘Submit’.

7.       Your leave cash up will be processed and paid with the next available pay run.

 

Lieu Days cash up:

Lieu days can be cashed up once they are one year or older. To find out the number of days that are entitled to be cashed up, please ask your manager in the first instance, otherwise you can submit the application for the total number of days in your balance, and payroll will message you with the number of days entitled to be cashed up, at which point they will change the application to reflect the maximum number of days available for cash up.

To cash up your available alternate days you will need to:

1.       Log into MyPay and select ‘My Transactions’ from your Menu options.

2.       Select the ‘Alternate Days CASH-UP’ option from the ‘Allowance’ drop down box.

3.       Tab through to the ‘Quantity’ box, as below, and your total number of lieu days will reflect in the ‘Alternate Days Balance’ box. 


4.       Enter the number of days you wish to cash up into the ‘Quantity’ box.

5.       Type in a comment if you need to.

6.       Click ‘Submit’.

7.       Your leave cash up will be processed and paid with the next available pay run.


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